UBER: Complete analysis (H, D and W charts).
Hello traders and investors! Let’s see how UBER is doing today and do another complete Multiple Time Frame Analysis (MTFA)!
The stock hit a top at $ 44.64, and now it is doing a pullback. We have two good support candidates in the 1h chart, which are the 38.2 and the 61.8% Fibonacci Retracements.
The 38.2% is at the 21 ema too, and the 61.8% is at the $ 41.86, which we’ll talk about later.
If UBER reacts near these support levels, it could trigger the pivot point at $ 44.64, reversing the trend for good in the short/mid-term.
Today’s candlestick pattern is called Bullish Engulfing, a bullish reversal pattern, just above the support at $ 41.86 (no, it is not the time to talk about it yet).
The volume is good, and if we defeat today’s high (coincidently, the pivot point in the 1h chart), the bullish pattern will be triggered. If we lose today’s low, then the bullish thesis will be invalid (or at least, delayed).
Ok, do you remember the $ 41.86? This point was the pre-covid ATH, and a previous resistance on UBER, which now it is working as support in the weekly chart.
What’s more, we have a Hammer candlestick pattern, which might reinforce our bullish reversal thesis. Surely, it is an interesting stock to keep in our radar.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Thank you very much.
The stock hit a top at $ 44.64, and now it is doing a pullback. We have two good support candidates in the 1h chart, which are the 38.2 and the 61.8% Fibonacci Retracements.
The 38.2% is at the 21 ema too, and the 61.8% is at the $ 41.86, which we’ll talk about later.
If UBER reacts near these support levels, it could trigger the pivot point at $ 44.64, reversing the trend for good in the short/mid-term.
Today’s candlestick pattern is called Bullish Engulfing, a bullish reversal pattern, just above the support at $ 41.86 (no, it is not the time to talk about it yet).
The volume is good, and if we defeat today’s high (coincidently, the pivot point in the 1h chart), the bullish pattern will be triggered. If we lose today’s low, then the bullish thesis will be invalid (or at least, delayed).
Ok, do you remember the $ 41.86? This point was the pre-covid ATH, and a previous resistance on UBER, which now it is working as support in the weekly chart.
What’s more, we have a Hammer candlestick pattern, which might reinforce our bullish reversal thesis. Surely, it is an interesting stock to keep in our radar.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Thank you very much.
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.